Augur is open source, decentralized global prediction market where anyone can create and compete in prediction markets for anything. Users can create their own markets for any topic they want. In addition to betting and prediction markets, Augur plans to optimize collective market intelligence to generate dynamic event forecasts based on market sentiment.
Augur utilizes blockchain to enforce a standard of user autonomy and anonymity while ensuring that prediction markets operate without the risks caused by centralization. Without market makers, counterparty risk and the rise of the principal agent problem is greatly diminished as decentralization ensure the integrity of network participants.
Augur makes use of smart contracts to ensure that markets survive local outages and remain immutable to abuse. Collective community security is improved through the implementation of prediction markets in a decentralized, immutable ledger system.